COMPANY NEWS; REPUBLIC BANCORP TO BUY D& N FINANCIAL IN STOCK DEAL

Republic Bancorp Inc., based in Owosso, Mich., agreed yesterday to acquire the D& N Financial Corporation for stock worth $286 million at Monday's closing price. Shareholders of D& N Financial, based in Hancock, Mich., will receive 1.82 Republic Bancorp common shares for each D& N Financial share. The transaction will be accounted for as a pooling of interests. The companies said the transaction valued D& N Financial at $30.14 a share. The companies said the new corporate headquarters would be in Ann Arbor, Mich.